Social commerce — the process of selling products directly on social media — is revolutionizing the e-commerce industry. In fact, the global social commerce market is estimated at $89.4 billion right now, and set to reach $604.5 billion by 2027. But what’s driving the rapid shift towards social commerce, and how can small businesses use
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E-commerce refers to a shopping experience via a website or dedicated branded app. Social commerce, by definition, allowing the customer to make their purchase within their social media experience. ocial commerce is not e-commerce. Social commerce is also not social selling. Social selling refers to cultivating relationships on social media in order to build your sales prospect list.
At the last Influencer Marketing Committee meeting of 2018, several leading marketers shared their brands' unique approaches to leveraging the power of influencer marketing to drive success. Here are their insights, learnings, and key takeaways. Influencer marketing is here to stay, but this also means that consumers are getting smarter and expect their favorite influencers to work hard to share authentic content. Kevin Gould, digital talent manager and brand strategist at Kombo Ventures, and Kyler Fish of Fish Fam fame took us through some of the ins and outs of playing effectively in the space:
In the darkly comical Ingrid Goes West, a small-budget indie-flick that flew under the radar of many moviegoers last year, a young woman by the name of Ingrid becomes morbidly obsessed by Instagram-famous blogger Taylor. Ingrid becomes infatuated by Taylor’s seemingly perfect life and starts mimicking her every move. Taylor posts a picture of her breakfast at her favorite bagel place, Ingrid stops by for lunch the same day. Taylor quotes a passage from her favorite book, Ingrid orders it online right away.
As social media has become a more integrated part of our lives, influencer marketing has exploded. People are turning to their favorite Instagram stars, Twitter personalities, and YouTubers for advice and recommendations on purchasing decisions. To get the most out of any influencer you may use, it’s crucial to build an influencer marketing strategy.